TAM aims to cut costs for financial advisers with its new digital solution

Asset managers TAM aims to cut costs for financial advisers with its new digital solution.Advertised as the “white label robo adviser for financial advisers”, TAM have developed FinchTech: a fully digital non-advised investment solution to enable financial advisers to offer a white-labelled service to all clients, with minimal effort.

It aims to prevent financial advisers having to turn away too many clients as a result of the FCA’s Retail Distribution Review, which forced advisers to consider the position of clients that fall below a particular investment threshold. The 2016 Association of Professional Financial Advisers survey reported that 69% of financial advisers had to turn away potential clients over the previous 12-month period.

The platform currently has a General Investment Account and an ISA available, with a SIPP on the horizon.

A statement from TAM reads: “FinchTech aims to deliver on the promise of robo advice through a platform that is in fact both non-advised and managed by discretionary fund managers, not robots. Our aim is to embark on a strategic relationship with financial advisers, offering the complete white-labelling of our all-encompassing platform with ease and simplicity.